Adani Enterprises Q3 consolidated revenue declines 10 laptop to Rs 343 cr


New Delhi, February 3

Adani Enterprises on Wednesday reported a 10.39 per cent fall in its consolidated profit to Rs 343.17 crore for the third quarter ended December 2020.

The Gautam Adani-led company had clocked a consolidated profit of Rs 382.98 crore in the corresponding quarter a year ago, it said in a regulatory filing.

Its consolidated total income for the latest quarter rose to Rs 11,787.82 crore from Rs 11,075.32 crore in the year-ago period.

The total expenses increased to Rs 11,303.97 crore in the December quarter compared to Rs 10,635.16 crore in the same period previous fiscal.

“Consolidated Total Income for the quarter increased by 6 per cent at Rs 11,788 crore owing to increased sales in Solar Manufacturing business. The EBIDTA for the quarter increased by 6 per cent to Rs 939 crore owing to increased sales in Domestic Content Requirement segment in Solar Manufacturing business, leading to better margin,” the company said in a statement.

The profit after tax (PAT) attributable to owners for Q3 FY21 was Rs 297 crore as against Rs 426 crore a year ago, owing to exceptional write off of exploration block on termination by the Ministry of Petroleum and Natural Gas.

“Adani Enterprises continued its journey towards laying the foundation for several new businesses that the Group is venturing into. These include Airports, Data Centers, Roads, and Water.

“The fact that Adani Enterprises was able to grow its Revenue and EBIDTA through a year of crisis is a reflection of the resilience of India’s economy as well as our confidence and commitment to continue to invest to build our nation’s infrastructure,” Gautam Adani, Chairman Adani Group, said.

The company said it took over the operations, management and development of Mangaluru, Lucknow and Ahmedabad Airports during the quarter.

“Shareholders value increased at CAGR of 105 per cent in last 3 years,” it added.

Providing details of various segments, the company said under its mining services, production volume at Parsa Kente mine in Chhattisgarh stood at 4.2 million tonne (MT), while volume at GP III mine, Chhattisgarh, was 0.6 MT.

“Volume at Talabira II & III mine, Odisha which was commenced in the first half of FY21, was 0.3 MT,” it said, adding that the company signed Coal Block Development and Production Agreement for two commercial mines — 3 MTPA Dhirauli in Madhya Pradesh and 4 MTPA Gondulpara in Jharkhand.

On solar manufacturing, it said the volume was constant at 285 MW. “However, EBIDTA margins increased from 16 per cent to 30 per cent, due to an increase in sale to Domestic Content Requirement segment in the sales mix. With a strong order book the company will continue to focus on these segments to have sustainable growth,” the statement said.

About Agro, it said the company maintained its leadership position with its Fortune brand and lead the refined edible oil market with more than 20 per cent share.

The total revenue for Q3 FY21 increased by 31 per cent to 10,257 crore, the statement said.

On the road segment, it said out of five concession agreements signed with NHAI under Hybrid Annuity Model for construction of roads aggregating to over 200 km, the project completion status in Bilaspur Pathrapali project in Chhattisgarh is about 58 per cent and Suryapet Khammam project in Telangana is about 20 per cent.

It has received communication from NHAI for six-laning of Azhiyur to Vengalam Section of NH-17 under Hybrid Annuity Model in Kerala, it added.

It has won bids for operation, maintenance and development of six airports and the company has taken over Mangaluru, Lucknow and Ahmedabad airports during the quarter, and signed pacts for Thiruvananthapuram, Jaipur and Guwahati airports on January 19, 2021.

Adani Enterprises Limited (AEL) is the flagship company of Adani Group. — PTI



Be the first to comment on "Adani Enterprises Q3 consolidated revenue declines 10 laptop to Rs 343 cr"

Leave a comment

Your email address will not be published.


*


%d bloggers like this: